President Joe Biden on Wednesday visited a General Motors (GM) electric-vehicle plant in Detroit, where he talked up how the newly enacted infrastructure law aims to boost the EV industry -- and touted reports that his agenda won't worsen inflation.
Biden was slated to visit the plant to deliver remarks on "how the bipartisan infrastructure law creates a future made in America, builds electric vehicle charging stations across the country to make it easier to drive an electric vehicle, reduces emissions to fight the climate crisis, and creates good-paying, union jobs across the country," according to the White House.
The law, signed by Biden on Monday, contains $7.5 billion for charging stations for electric vehicles.
Read:Biden signs bipartisan infrastructure bill into law, authorizing big spending on roads, broadband, EV chargers and more
Also see:Billions of dollars in infrastructure bill for charging could supercharge electric vehicle adoption
The president kicked off his remarks by citing reports from ratings agencies that said his agenda won't add to inflationary pressures. Republicans have attacked Biden over rising inflation, with Sen. Rick Scott of Florida, who heads the Senate GOP's fundraising arm, telling The Wall Street Journal the issue is a "gold mine for us."
Democrats' separate social-spending and climate bill -- which could see a vote in the House of Representatives this week -- contains new tax credits for EVs, of as much as $12,500. Even if approved in the House, however, the measure would face changes in the Senate, where moderate Democrat Joe Manchin of West Virginia has objected to certain provisions. Unlike the infrastructure bill, no Republicans are expected to support the social-spending package.
Now see:House Democrats plan EV tax credits of up to $12,500, as Republicans, Tesla, Toyota voice objections
And read:A 'Made in America' tax credit -- what car buyers considering a Tesla, Rivian or other EVs need to know about Build Back Better
The president's visit came as he is again pressing the federal government to examine rising gasoline prices. In a letter to Federal Trade Commission Chair Lina Khan, Biden asked the agency to immediately "consider whether illegal conduct is costing families at the pump," as he said there's "mounting evidence of anti-consumer behavior by oil and gas companies."
(END) Dow Jones Newswires
November 17, 2021 18:02 ET (23:02 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.